Abstract
This paper examines the dynamic interrelationships between the sea freight and shipbuilding markets. Many practitioners argue that the freight rates rely on the shipbuilding activities, because the shipbuilding is the primary source of ship supply. Other specialists argue that demand for shipbuilding is activated by the demand of freight market, where the shipbuilding decisions are made on the outlook of future freight rates. We examine these competing views by analysing the time series in dry bulk shipping. The results indicate the shipbuilding market unlikely leads the freight market, implying that the shipbuilding activity depends on the freight market.
| Original language | English |
|---|---|
| Title of host publication | Proceedings of International Forum on Shipping, Ports and Airports, IFSPA 2008 - Trade-Based Global Supply Chain and Transport Logistics Hubs |
| Subtitle of host publication | Trends and Future Development |
| Pages | 480-494 |
| Number of pages | 15 |
| Publication status | Published - 1 Dec 2008 |
| Event | International Forum on Shipping, Ports and Airports, IFSPA 2008 - Trade-Based Global Supply Chain and Transport Logistics Hubs: Trends and Future Development - Hong Kong, Hong Kong Duration: 25 May 2008 → 28 May 2008 |
Conference
| Conference | International Forum on Shipping, Ports and Airports, IFSPA 2008 - Trade-Based Global Supply Chain and Transport Logistics Hubs: Trends and Future Development |
|---|---|
| Country/Territory | Hong Kong |
| City | Hong Kong |
| Period | 25/05/08 → 28/05/08 |
Keywords
- Cointegration
- Sea freight
- Shipbuilding
- Time series analysis
- VECM
ASJC Scopus subject areas
- Control and Systems Engineering
- Electrical and Electronic Engineering
- Mechanical Engineering
- Transportation